More than 1,400 North Carolina consumers whose homes were allegedly wrongly foreclosed on by SunTrust will soon be receiving checks of approximately $1,330 each, according to the state Attorney General’s office.
The payments, which are being mailed starting Friday, are part of an estimated $23.5 million in relief for North Carolina consumers that was negotiated last year as part of a larger $550 million national settlement with SunTrust Mortgage. That settlement involved 49 states, the District of Columbia and several federal officials. The relief also included loan modifications and lien forgiveness.
Under the terms of the settlement, payments are owed consumer who lost their homes to foreclosure as a result of alleged misconduct by SunTrust that, according to the attorney general’s office, “resulted in premature or unauthorized foreclosures, violations of homeowners’ protection, and the use (of) deceptive documents and affidavits.”
The 1,454 Norh Carolina receiving payments had mortgages serviced by SunTrust, lost their homes to foreclosure between between Jan. 1, 2008 and Dec. 31, 2013, and applied for relief by the June 4, 2015 deadline.
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Consumers with questions can contact the settlement administrator toll-free at 1-866-590-8532 or by email at settlementadministrator@nationalSunTrustsettlement.com.